MAY 26, 1997
Lola Cars in administration
Lola - which has been in business for 39 years - has the exclusive contracts to supply chassis in Formula 3000 and in the Indy Lights series. It also has a small amount of business left in CART racing.
We hear that there are several parties interested in buying the operation in order to use it to run a Formula 1 program. One name which has been mentioned is that of Prodrive which seems to have been rejected as a buyer for Benetton. There are also rumors that a CART team may wish to take over the business.